Novartis to acquire Tourmaline Bio in deal valuing it at $1.4 billion

Core Viewpoint - Switzerland's Novartis is set to acquire Tourmaline Bio for $48 per share, valuing the company at $1.4 billion on a fully diluted basis [1] Company Summary - Novartis, a Swiss pharmaceutical company, is making a strategic acquisition to enhance its portfolio by acquiring Tourmaline Bio, a New York-based company [1] - The acquisition price of $48 per share indicates a significant valuation for Tourmaline Bio, reflecting Novartis's confidence in the company's potential [1] Financial Summary - The total deal value for Tourmaline Bio is estimated at $1.4 billion, which is calculated on a fully diluted basis [1]